All Forum Posts by: Sam Slivinski

 I do not know the Maryland market so I can't help you there but hopefully I can help lend some guidance on where to point your energy. First you're going to decide on what strategy works well for you; house hacking, long term rental, flipping, etc. Then decide which headaches you want to deal with! Better grade neighborhoods are going to have much tighter margins but you will not deal with as much tenant turnover or damage to your units (in general of course). Another factor is going to be how much you have to spend. Once you find an area that works for what you want study, study, study. You'll start to be able to tell the good deals from the bad ones and if you start driving the areas you'll quickly realize which areas are nice and which ones are not. 

I'd recommend using the calculators on here but first doing the math yourself. It helped me to understand how all the numbers worked by forcing myself to make and excel sheet.

@Sean Toomey we currently live in Cheshire and we would like to be 30 minutes max from where we currently are. So New Britain, Meriden, Plaineville etc.

Hey guys! My wife and I currently own a single family home in Cheshire. We are looking to rent the current house and buy a multi family to hopefully house hack. As far as financing we have a lot of options, VA loan, we have cash for down payment if we go conventional. My problem is finding a house that works! It seems to me the market is still really high right now and I'm having issues finding a house where the math works. I'd love to connect with someone that has done this or is currently doing it and how you run the numbers and found deals. Thank you!

Cheers guys, thanks for the help

I've been told conflicting answers to this question. We bought our current single family home with a no money down VA loan. It has been over a year and we are looking to house hack a multi and rent out current house. Can we use another VA loan for the next

First piece of advice, always, always, always put everything in writing when dealing with partners, ESPECIALLY family. 

She could get taken off the title, I'd be more worried about the mortgage. Since her name will be on the mortgage the bank may balk when you go to take her name off it (I assume she will not want the liability of staying on the mortgage). Have you considered having her buying it and then selling it to you at a later date?

Justin, 

I would say its a huge potential opportunity. The investor could older and looking to cash out or someone that just doesn't want to deal with the day to day of real estate investing. I would learn everything you can about the investor and if possible speak with them. 

How well do you know the rental areas? The investor could also be pulling out because of some macro trends they see in the area and they think the market there is heading down. Something to keep in mind as well is that the entire real estate market is high right now, at least where I am multis are selling for 25%+ what they were just a year and a half ago. Some people think there is going to be a crash and in this case they could be trying to cash out on the high prices before the dip.

Hopefully this helps, if you can get in contact with the investor I think that is your next best step!

You will have to file paperwork to start the eviction process if they choose to stay after the notice...I doubt they will stay as they have no ground to stand on. If they do stay though they will be brought to court and will most likely have to pay whatever damages they've caused by staying.

Doing some quick research it looks like for North Carolina the notice needs to be given only 7 days before.

I am fairly new to real estate, looking to get into my first multi as well. I've been looking in the New Britain area as well, I would certainly be open to discussing the property (and others)! 

They are legally liable to disclose information if the structure of the house is compromised. But I would still be careful as even if they are liable, it is not a situation you want to be in.

Did you walk the house with anyone else? Someone with experience might notice something, which is possibly why it is still on the market.

I'm not sure on the specifics in North Carolina but as long as you give them proper notice you shouldn't run into any issues. I'm not a lawyer and this isn't legal advice but because it is mtm you are just choosing to not renew the lease. It is not technically an eviction. If they continue to try and live there they will be doing so without a lease and will squatting illegaly.